facebookDo you guys still allocate a portion of your monthly salary to savings if emergency fund has already been accounted for? - Seedly

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Anonymous

30 Mar 2021

Saving Hacks

Do you guys still allocate a portion of your monthly salary to savings if emergency fund has already been accounted for?

How much? And what do you expect to use these funds for?

Just curious to learn from everyone’s saving habits :)

Discussion (7)

What are your thoughts?

Huang Yixuan

Huang Yixuan

30 Mar 2021

Person at Seedly Community

Setting up enough emergency fund (about 6 months of your current expenditure) is important and it's great if you've achieved that already!

The next step would probably be finding that personal goal for yourself. Do you want to buy your own house? Or maybe take a year to go travelling around the world? Or maybe even to start your own business!

What's money good for if it's not to spend? ;) These big dreams will be tied to your financial goals, and that's when you will start saving up to achieve them (:

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Chris

Chris

29 Mar 2021

Owner and Writer at Tortoisemoney.com

Depends. If you're not saving up for anything big and your e-fund is settled, I would just allocate the savings portion all to investments/retirement planning.

If you're saving for something big like a wedding/house etc, then you'd have to allocate some portion of your salary to saving up for these purchases. A simple way to do it is just to split the amount by the number of months you have till you have to pay for it and just allocate that amount to your savings each month.

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